One of today’s economic reports, Housing Starts, brings us a follow up to the NAHB Housing Market Index, which showed some improvement yestersday (see below). Unfortunately, housing starts fell to record lows. You can see the Census Bureau PDF report at NEW RESIDENTIAL CONSTRUCTION IN APRIL 2009.PDF and the headline numbers at Housing construction, permits hit record lows .To get an understanding between the various housing stats, take a look at the Census Bureau’s descriptins at: Relationship Between Building Permits, Housing Starts, and Housing Completions.
Yesterday brought cheer to the markets as the home builders index rose by two points to 16. While that may sound good, a reading below 50 indicates builders are still somewhat concerned about the state of home building. The 16 reading is lower than at any time since this gauge was instituted in 1985. To look at comparisons through the years, take a look at this site THE NAHB/WELLS FARGO HOUSING MARKET INDEX COMPONENTS and the following graph, which was courteously provided by the good folk at http://www.calculatedriskblog.com/. While a bottom has hopefully been reached and better days are ahead for the home builders and home buyers, it’s still an historically weak number.
Mike: I recently added a Resources page to the site and I’m going to populate that page with layoff information, assistance and other useful contacts and data. My initial offering in Resources details the various WARN requirements; both federal and state. Some states, like NY and CA, have up-to-date reporting about planned layoffs at various businesses. Other states, like Arkansas and South Carolina, don’t have any mass layoff or WARN notices for their citizens to review. In fact, I wrote the Arkansas labor department and they said that they have a law that bars mass layoff publication to the public. So the state of Arkansas has that information, but it won’t release it to the public due to a business confidentiality state law. So it must go something like this in Arkansas: A business gives the state a heads-up about pending layoffs, but the state keeps that information from the public. Makes it a little difficult to make plans when the state is keeping business interests ahead of its citizens.
- Volvo unit inks union deal on cutting working hours
- Schiphol airport, union deal to cost 1 in 5 jobs
- Pimkie supprime 190 emplois dans le Nord
- East London Advertiser – University’s 500 job cuts make no sense
- Lloyds Banking Group Axes 625 Staff Says Unite Unio
- ABN AMRO to cut 5,000 jobs
- Continental cuts production at Stoecken plant
- Boots the Chemist to slash 200 jobs
- Bay Trading sheds 1,230 jobs
- Air France-KLM reports Q4 net loss – (hopes to cut another 2700)
- Microsoft China Will Cut More Than 300 Jobs –
- Microsoft/Google/IBM and other Rumors/News
General Economic News
Government Layoff News
US and some Canada Layoff News
International Layoff News
Hiring News and News You Can Use
– Due to IBM outsourcing jobs to Argentina, a number of staffing agency employees have lost their jobs, Jen Boyer, branch manager for the Harrisburg Office of Manpower International, said.
Last week, Manpower International received notice that 17 of their employees would be laid off when IBM decided to transfer their jobs to Argentina, Boyer said.
– According to reports in Taiwanese media, Microsoft will cut more than 300 jobs in mainland China and over 10 jobs in Taiwan in the second round of its staff reductions.
7:45 AM ET
8:30 AM ET
WASHINGTON (AP) — Housing construction plunged to a record low in April as a steep drop in apartment building offset a rebound in single-family construction. Permits for new projects also hit a new low.
The Commerce Department said Tuesday that construction of new homes and apartments fell 12.8 percent last month to a seasonally adjusted annual rate of 458,000 units, the lowest pace on records going back a half-century.
In a disappointing sign for the future, applications for new building permits dropped 3.3 percent to a new record low annual rate of 494,000.
8:55 AM ET
Once again, department stores saw a worsening performance, with year-over-year comp store sales falling 7.7% after dropping 6.9% in the first week of the month.
Mike: I have always admired Ralph Nader (disclosure: cast presidential vote for him in 2008) and I believe he is correct about having some Congressional oversight to the auto makers bankruptcy/restructuring plans. After all, the taxpayer, both US and Canadian, have fronted these companies billions to fail slowly, so proper and public oversight should be required. Anything done out of the public eye usually leads to a windfall for executives and a shaft for the workers and their affected communities.
Mike: As per the below article – Credit card companies still have nine months to gouge some of their customers, but the legislation is a step in the right direction. Even though I have an excellent credit score, Discover is raising my interest rate from 10.25% to 16% in June and that includes any balance I have on the card. I’ll likely move that balance to a more fair card, but it shows you just how arbitrarily these card companies can raise interest rates and change rules. I can understand them saying that FUTURE purchases would reflect the higher interest rates, but to say that after a purchase seems somewhat unfair. With record job losses leading to record credit card defaults, it won’t be long before many of these companies seek government funds to keep them from going under. That leads to a situation where I’ll be paying a much higher interest rate and giving those same companies tax money to keep them afloat……………
– If enacted into law as expected, the credit card industry would have nine months to change the way it does business: Lenders would have to post their credit card agreements on the Internet and let customers pay their bills online or by phone without an added fee. They’d also have to give consumers a chance to spare themselves from over-the-limit fees and provide 45 days notice and an explanation before interest rates are increased.
Some of these changes are already on track to take effect in July 2010, under new rules being imposed by the Federal Reserve. But the Senate bill would put the changes into law and go further in restricting the types of bank fees and who can get a card.
-An estimated 1,700 state positions would be cut across the board, including education, human services and public safety, according to Rep. Peter Buckley (D-Ashland).
– TROY— Miami County Sheriff Charles Cox said Monday, May 18, budget shortfalls are forcing him to lay off five road deputies and five corrections officers and delay hiring for five vacant corrections officer positions.
– Last Friday, seven Ballard High School teachers and staff were given notice that they would no longer have a job with the Seattle School District.
– SACRAMENTO, CA – Sutter Health announced Monday that 121 employees of its Information Services Department will lose their jobs.
– The job cuts are expected to save $600,000 in salaries and benefits, said Township Manager Denise Rose. Jobs are slated to be removed through attrition within the police, public works, construction, community development and health departments.
– The Forest Hills School District voted Monday night to cut more than 40 jobs from the budget.
– ESCANABA – A school nurse and 10 teachers in the Escanaba School District will officially receive notice today of their impending layoffs. The school board approved laying off the employees at its meeting Monday night.
– Washoe County commissioners Monday approved $683 million in spending for 2009-10 based on about 500 fewer employees because of the recession.
– Under the motion, which was approved by a 4-1 margin, five positions will be cut, and the Educational Services Department will be eliminated. Among those being let go is popular Bellview Elementary School Principal Christine McCollom.
-Continued economic woes have forced Pittsburg to lay off 16 employees to bridge a budget deficit.
-Thirty staff members will be cut from Howell Public Schools next year in a plan approved by the district’s Board of Education on Monday.
-Ron Zilli, assistant district forester for the Astoria District, said to stay afloat his district will cut 10 full-time and two seasonal positions effective June 30.
– PROVIDENCE – The U.S. Postal Service plans to cut 24 positions in its Southeast New England district, but the affected workers will be able to apply for other open positions, a spokeswoman told Providence Business News today.
– Medtronic Inc. (MDT) will eliminate about 1,500 to 1,800 jobs by the end of June amid its efforts to control costs and manage through economic pressures.
– Bus company Greyhound Lines Inc. has confirmed in a letter to the Texas Workforce Commission that 187 employees located at its Patriot Tower location on North St. Paul St. will be laid off as will 93 employees at Greyhound’s parent company, FirstGroup America.
– According to several sources at the two agencies, at least 120 William Morris employees, about 40 of them agents, are being informed today that they are losing their jobs. The television and motion picture departments were both hit particularly hard.
– Heavy equipment and diesel engine maker Caterpillar Inc. said it will cut hours at least in half for 985 workers in its Lafayette, Ind., plant, the Associated Press reported Monday.
– In the past, voluntary layoffs have been offered, but on Friday, the Fort Custer Industrial Park-based cable manufacturer made it mandatory for 20 hourly associates and five salaried employees. Those 25 had the least seniority, said Human Resources Manager Mitch Freeman.
– A recent slowdown in mining activities will prompt ME Global of Gary-New Duluth to lay off 39 workers a week from today. The foundry employs 103 people.
-After 28 years at Chief Automotive, Mike Fuller got his walking papers. A Monday morning meeting delivered the blow that this plant is closing and 66 people will lose their jobs.
– Richards Industries Inc., a fixture in Rockwood since 1970, has announced that it will close its doors on June 22, laying off 78 workers.
– NORTHUMBERLAND — A Northumberland company, which had plans to expand to a new location in the area, has expanded its operation to another state and could be closing in Northumberland.
– SALEM — Salem State College announced a “restructuring” that eliminates 60 jobs from all areas except faculty, according to a college spokeswoman.
– The West Sacramento supermarket chain offered buyouts to 3,000 employees but will accept only the first 100 takers, said company spokeswoman Nicole Townsend. The company employs 15,000 workers.
– Approximately 164 Western employee positions will be eliminated before the next academic year as part of a $12.1 million cut to the operating budget for the 2009-11 biennium.
– Central Wellington bookshop Dymocks has been placed in liquidation with the loss of 12 jobs, following the recent closure of another Dymocks store in Auckland.
– Sportsman’s Warehouse and Memphis Biofuels LLC have joined the list of businesses in Memphis taking drastic steps to compensate for the downturn in the economy.
– Terex’s Waverly operation, where Terex Cranes North America manufactures rough terrain cranes, boom trucks and truck cranes, has been temporarily shutdown and 114 employees made redundant.
– TROY — A telemarketing company will close its call center in the city by May 29, laying off 95 people, according to the state Department of Labor.
CDG Management notified the state Monday it was closing the call center in the Troy Atrium.
– “Today we notified approximately 130 employees that they are affected by a reduction in force. We have initiated the Workers Adjustment Retraining Notification (WARN) process, which will provide affected employees with 90 days of continued pay and benefits, in addition to severance.
– Amgen Inc. will lay off 101 workers at its drug-manufacturing site in Bothell between July 13 and July 27, the state Employment Security Department confirmed Tuesday.
– Just Cause developer Avalanche Studios will lay off 20 employees in the next three months, according to media reports.
– The company developing the $2.9 billion Fontainebleau Resort in Las Vegas laid off about 40 people Monday, or about 20 to 25 percent of its staff, a spokesman said.
– The Bush Hog manufacturing plant in nearby Washington County will close by mid-July unless the plant is sold before then, the company has informed local officials.
Nearly 150 workers, a number of them Greene County residents, would lose their jobs in such a closing of the six-year-old plant, which is not far from Jonesborough next to U.S. 11E six miles from the Greene County line.
– BIC Graphic USA said it will proceed with plans earlier this month to shut down its Atchison facility in July, eliminating 88 jobs.
– Shiloh Industries Inc will shutter permanently its Liverpool Manufacturing Plant this summer, putting 111 employees at the Medina County operation out of work.
– Historic Footprint Tools is closing with the loss of 50 jobs after being hit by a combination of declining demand and the rising cost of essential equipment for its new plant in Sheffield’s Upper Don Valley.
– DAYTONA BEACH — Bethune-Cookman University is cutting ties with 30 employees as part of a recession-caused restructuring.
– The dramatic slowdown in new construction and an expected drop in property values of 15 percent or more has forced Flagler County officials to lay off eight county employees and freeze another four vacant positions, according to a news release from the county.
– The Honolulu Advertiser will lay off as many as 15 union members in three weeks, according to notices sent to their respective unions.
– Continued soft global demand for wood products has led Erickson Air-Crane to lay off 14 employees from its logging support department.
– HEATH — Boeing announced today a permanent layoff of 59 employees because of the ongoing economic recession.
– (Westfield, Indiana) – Standard Locknut is in the process of laying off nearly 40 workers at its plant here after learning a major client plans to pull back on orders. In a letter to the state, Standard officials said the job cuts are in addition to 35 other employees who were laid off in April.
– EAST RIVER – Seventy people have been laid off at Louisiana-Pacific’s East River plant with little chance of being called back to work.
– AMSTERDAM, May 19 (Reuters) – Dutch state-controlled bank ABN AMRO plans to cut a net 4,000 to 5,000 jobs and up to 1.3 billion euros in costs over the course of its integration with Fortis Bank Nederland, a spokesman said Tuesday.
– Gourgeon said the group shed 2,700 jobs through attrition in its financial year, bringing the total number of employees to 107,000. He said he hoped to reduce the work force by the same amount this year.
– The financial sector job carnage has continued with the news that a further 625 staff at Lloyds are to lose their jobs.
– The Finnish firm said it would cut 170 jobs in logistics, production management and production support and would offer a voluntary resignation package for up to 320 employees working at its Salo plant in Finland.
-STOCKHOLM, May 18 (Reuters) – World number two truck maker Volvo (VOLVb.ST) said on Monday its Powertrain unit had agreed with unions on cutting working hours and wages at its operations in Koping, in central Sweden.
– AMSTERDAM, May 19 (Reuters) – One in five jobs will be lost at Schiphol after unions signed up to the Amsterdam airport operator’s staff reduction plan in exchange for a guarantee of no forced redundancies.
– SAICA Packaging is to make 18 jobs redundant at its box plant in Edinburgh.
– The British Marine Federation (BMF) has announced that a limited number of redundancies are to take place at its UK headquarters in Egham, Surrey.
via BMF redundancies.
– Dans le cadre d’un projet de réorganisation, l’enseigne de prêt-à-porter féminin Pimkie a annoncé mardi la suppression de 190 postes dans le Nord, sur un effectif de 2.088 salariés en France.
– THE London Metropolitan University faces an unprecedented threat to its future, with 500 teaching jobs and as many as 11,000 student places being cut as it seeks to repay £40 million to the Government.
– OXFORDSHIRE’S first foundation school, King Alfred Community and Sports College at Wantage, is being forced to cut jobs because of a black hole in its £8m budget.
– German tire maker Continental AG said Tuesday about 425 workers would lose their jobs due to production cuts at the Hannover Stoecken plant, although the company committed to keeping the site open at least until the end of 2010.
– Defense contractor Ceradyne Inc (CRDN.O) said on Tuesday that it plans to close a French plant, cutting about 95 positions, as it seeks to lower manufacturing costs.
– Boots the Chemist is slashing 200 jobs in the UK – despite bouncing back into the black.
The cuts are among 1,500 job losses across Europe in Alliance Boots’ wholesale pharmacy supply arm, and are intended to save the firm around £55million a year.
– Around 1,230 jobs are to be lost at clothing chain Bay Trading as stores close.
Administrators are shutting the remaining 125 outlets in the wake of a deal to sell the rest of the chain.
– It comes as 11 staff were made redundant yesterday, just three days after Portland Spa Hotel went into administration.
– German blown film and plastics packaging machinery producer Windmöller & Hölscher said it has initiated negotiations with its works council which are likely to see up to 350 posts go at its Lengerich headquarters.
– While there’s relief that classes are over, exams have been taken and term papers turned in, what lies ahead for the Class of 2009 is an extremely challenging and competitive job market.
For new grads who plan to expand their job searches beyond their college or hometowns, Apartments.com and CBcampus.com just released the “Top 10 Best Cities for Recent College Graduates.”
– The discount carrier also said that it was extending its refund program for travelers who get laid off after buying tickets. The program, which JetBlue says has been welcomed by customers, was originally supposed to run only through June.
– PORTAGE — A Portage manufacturer is set to receive state tax breaks today for a project that would create 200 new jobs, more than doubling its work force here in the next five years.
Mann+Hummel USA Inc
– MENOMONIE – A $28 million expansion is planned at ConAgra Foods in Menomonie, creating an additional 30 jobs.
– State Commerce Department spokeswoman Kara Borie said Monday that Sykes Enterprises Inc. will expand current operations in Greenwood and Williamsburg counties, adding 400 jobs in each county. The company also will establish new operations in Sumter County, creating 100 new jobs.
– San Diego, CA (PRWEB) May 19, 2009 — Todd DiRoberto of American Satellite, Inc., a San Diego based Home Entertainment, Communications and Security Services Retailer, announced their pending growth today. American Satellite is leasing an additional 7,500 square feet of office space, for a total of 20,000 square feet. This is good news for the struggling residents of San Diego. While most companies are downsizing or shutting their doors, American Satellite will be creating over 100 new jobs in the upcoming months.
– 300, that’s how many a new Wal-Mart is looking to hire. The building may not look like much now, but Newburgh’s future Wal-Mart is hiring hundreds.
– THE town’s economy will be given a lift by the opening of a new Tesco Metro store which is creating 91 new jobs.
The supermarket giant’s new branch at The Shopping Centre on Four Acre Lane attracted a massive 875 local job applications.
Mike: More later………………….
For a view of various blogs, pay a visit to: http://alphainventions.com/.